Solid State Balance Sheet

Financials in millions GBP. Fiscal year is April - March.

Millions GBP. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Cash & Equivalents	5.77	3.51	8.45	12.22	4.98	6.91
Cash & Short-Term Investments	5.77	3.51	8.45	12.22	4.98	6.91
Cash Growth	-30.88%	-58.40%	-30.91%	145.31%	-27.93%	96.59%
Accounts Receivable	27.92	18.36	28	16.38	14.95	11.68
Other Receivables	1.82	1.2	0.15	0.16	0.13	0.16
Receivables	29.74	19.56	28.15	16.54	15.07	11.84
Inventory	26.44	28.24	25.08	33.23	17.6	10.63
Prepaid Expenses	-	3.05	3.38	3.16	2.9	2.38
Total Current Assets	61.95	54.35	65.06	65.15	40.56	31.95
Property, Plant & Equipment	11.15	11.56	7.82	6.7	5.4	5.46
Goodwill	26.08	26.83	29.41	29.73	9.9	9.9
Other Intangible Assets	7.34	8.5	9.26	11.16	5.73	6.56
Long-Term Deferred Tax Assets	0.51	1.46	0.61	0.38	0.54	-
Long-Term Deferred Charges	1.73	1.63	1.44	0.68	0.2	0.1
Total Assets	108.76	104.34	113.58	113.79	62.33	53.97
Accounts Payable	19.5	10.07	10.01	12.92	8.08	4.19
Accrued Expenses	-	6.24	11.31	10.44	8.32	5.04
Short-Term Debt	1.73	-	2.06	-	2.06	-
Current Portion of Long-Term Debt	0.05	8.63	1.34	1.28	-	-
Current Portion of Leases	1.22	1.4	1.11	1.06	0.76	0.74
Current Income Taxes Payable	0.16	0.23	1.22	1.11	0.53	0.8
Current Unearned Revenue	6.2	5.85	6.46	5.38	3.46	2.3
Other Current Liabilities	0.47	1.08	0.45	6.38	4.71	2.66
Total Current Liabilities	29.33	33.5	33.96	38.56	27.92	15.73
Long-Term Debt	10.67	1.94	9.72	13.38	1.5	3.75
Long-Term Leases	4.16	4.6	2.47	0.99	1.33	1.8
Long-Term Deferred Tax Liabilities	1.01	1.55	1.98	2.19	1.83	1.49
Other Long-Term Liabilities	1.35	1.26	0.84	0.72	2.67	5.69
Total Liabilities	46.52	42.85	48.96	55.83	35.25	28.47
Common Stock	2.85	2.85	0.57	0.57	0.43	0.43
Additional Paid-In Capital	28.3	28.3	30.58	30.47	3.63	3.63
Retained Earnings	34.96	33.15	35.09	27.81	23.04	21.51
Treasury Stock	-0.31	-0.54	-0.04	-0.11	-0.06	-0.07
Comprehensive Income & Other	-3.57	-2.27	-1.58	-0.83	0.04	0.01
Total Common Equity	62.24	61.5	64.62	57.91	27.08	25.5
Minority Interest	-	-	-	0.05	-	-
Shareholders' Equity	62.24	61.5	64.62	57.95	27.08	25.5
Total Liabilities & Equity	108.76	104.34	113.58	113.79	62.33	53.97
Total Debt	17.83	16.57	16.69	16.71	5.64	6.29
Net Cash (Debt)	-12.06	-13.06	-8.24	-4.48	-0.66	0.62
Net Cash Growth	-	-	-	-	-	-69.50%
Net Cash Per Share	-0.21	-0.23	-0.14	-0.08	-0.02	0.01
Filing Date Shares Outstanding	56.66	56.66	56.78	56.69	56.58	42.77
Total Common Shares Outstanding	56.66	56.66	56.78	56.69	42.79	42.77
Working Capital	32.63	20.85	31.1	26.59	12.64	16.22
Book Value Per Share	1.10	1.09	1.14	1.02	0.63	0.60
Tangible Book Value	28.82	26.16	25.95	17.03	11.45	9.05
Tangible Book Value Per Share	0.51	0.46	0.46	0.30	0.27	0.21
Land	-	0.49	0.49	0.5	0.47	0.45
Machinery	-	8.88	7.65	7.18	4.94	4.25
Leasehold Improvements	-	3.78	2.7	2.07	1.98	1.95
Order Backlog	-	108.5	88.4	120.1	85.5	41.3

Source: S&P Global Market Intelligence. Standard template. Financial Sources.